Business & Finance

Latest News on New Petrol Price for Today, Tuesday, 18 July 2023

Affordable Data Plans for MTN, Airtel, Glo, and 9mobile at
Latest News on New Petrol Price for Today, Tuesday, 18 July 2023

In a shocking turn of events, the price of petrol in Nigeria has skyrocketed to an unprecedented high of N617 per litre. Daily Trust can confirm this disheartening development after conducting an on-ground investigation at an NNPC filling station located in the Central area of Abuja earlier today.

The sudden adjustment from the previous rate of N539 to N617 per litre has sent shockwaves throughout the country, leaving both motorists and consumers grappling with the significant burden of this substantial increase. A concerned customer, who wished to remain anonymous, verified the staggering price hike, stating, “It is true, I just bought petrol at N617 per liter.”

Buy Cheapest Data Price
Our Data Prices On Alrahuzdata:
- MTN SME 1: N256 per 1GB
- MTN SME 2: N253 per 1GB
- Airtel CG: N272 per 1GB
- Glo CG: N237 per 1GB
- 9mobile: N129 per 1GB
REGISTER NOW to get started:

Although the immediate cause of this alarming surge remains unclear, industry analysts believe it is not unrelated to recent forecasts made by oil marketers, warning that fuel prices may soon reach an alarming N700 per litre. This distressing projection has now become a harsh reality for Nigerians, exacerbating the already precarious economic situation faced by many.

As news of this unprecedented fuel price hike spreads, the nation awaits a response from the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA). Daily Trust has reached out to the regulatory body for comment, but as of the time of writing this report, no official statement has been issued.

Trending: Dollar to Naira Today Black Market Rate 18 July 2023: Aboki Forex Reveals Exchange Rates



The implications of this exorbitant petrol price increase are far-reaching. Ordinary citizens, already burdened with rising inflation and the high cost of living, now face an even heavier financial strain. Transportation costs are expected to surge, affecting both commuters and businesses that heavily rely on fuel for their operations.

The government, industry stakeholders, and consumer rights advocates find themselves at a crossroads, urgently needing to address this distressing situation. Finding a viable solution to alleviate the burden on the Nigerian populace while ensuring a stable and sustainable fuel pricing system has become an imperative task.

Latest News on New Fuel Price: IPMAN to Sell Fuel to Nigerians at N100 Per Litre with Introduction of CNG

The ramifications of this drastic fuel price escalation will undoubtedly reverberate across various sectors of the economy. Citizens will be forced to make difficult choices, grappling with the impact on their daily lives, and demanding immediate action from those responsible for safeguarding their interests.

As Nigerians brace themselves for the fallout from this unparalleled increase in petrol prices, the future of the nation’s economy hangs in the balance. How the government, regulators, and industry players navigate this critical juncture will be crucial in determining the trajectory of the country’s socio-economic landscape.

Source: Daily Trust

READ ALSO: How to Apply for NIRSAL Agric Loan: Access Affordable Funding to Start and Grow Your Business

Google News Channel

Follow us on Google News for Latest Headlines

Join Our WhatsApp, Facebook, or Telegram Group For More News, Click This Link Below;

WhatsApp Channel

WhatsApp Group

Facebook Page

Our Twitter Page
Telegram Group

Threads App Official Page

Discover more from Allmedia24 News

Subscribe to get the latest posts to your email.

Allmedia24 Whatsapp Group


Leave a Comment

Your email address will not be published. Required fields are marked *